one section of SOX requires this _____ _____ to be comprised entirely of outside, independent directors

audit committee

COSO defines this as "an indcident or occurrence emanating fomr interanl or external sources that afftects implementation of strategy or achievement of objectives. It can have positive or negative effects on the organization

An event

The risk that existed before any control systems are implemented

inherent risk

risk that remains after the internal controls are installed

residual risk

Three elements for segregation of accounting duties are

authorization, recording and custody

computer programs that have learning capabilities, which are quire accurate in identifying suspected fraud